President Bola Tinubu has suspended the collection of management and frontier exploration fees by the Nigerian National Petroleum Company Limited (NNPCL) as part of a sweeping Executive Order aimed at safeguarding oil and gas revenues due to the Federation. The directive, announced in a statement yesterday by the Assistant Director of Information and Public Relations at the Federal Ministry of Finance, Uloma Amadi, also orders the direct remittance of taxes, royalties, and profit oil under Production Sharing Contracts to the appropriate fiscal authorities, effectively blocking deductions at source. According to…
Read MoreTinubu orders NNPCL to remit oil taxes, royalties directly
